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Credit union loan growth remained in the double digits in July even as some movement economists expect it to slow this year.

CUNA Mutual Group’s monthly Credit Union Trends Report showed credit unions held just over $1 trillion in loans on July 31, up 10.2% from July 2017. The growth rate from June to July was 1.1%, slightly outpacing the 1% one-month growth a year earlier.

The Madison, Wis.-based CUNA Mutual Group’s report showed some slowing in car loans, but total loan growth has been on a slightly accelerating trend since January when portfolios were 9.8% larger than a year earlier.

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Jim DuPlessis

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